Gold rises on weaker U.S. dollar-Xinhua

Gold rises on weaker U.S. dollar

Source: Xinhua

Editor: huaxia

2023-11-25 04:09:15

CHICAGO, Nov. 24 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Friday as the U.S. dollar fell.

The most active gold contract for December delivery rose 10.20 U.S. dollars, or 0.51 percent, to close at 2,003.00 dollars per ounce.

The S&P flash U.S. manufacturing purchasing managers index (PMI) came in on Friday at a reading of 49.4 in November, a three-month low.

Meanwhile, the S&P flash U.S. services PMI ticked up to 50.8 in November from 50.6 in October, a four-month high.

Majority of market analysts held that the Federal Reserve would leave rates unchanged at its December monetary policy meeting.

Silver for December delivery rose 65.30 cents, or 2.76 percent, to close at 24.341 dollars per ounce. Platinum for January delivery rose 6.20 dollars, or 0.67 percent, to close at 936.90 dollars per ounce.